China stocks rally to lead Asia gains

Posted by Forexsq 1088 days ago (
img Chinese stocks jumped to lead gains for Asia markets Wednesday, with the Shanghai bourse rallying off a four-year low as investors picked up financial and property stocks.

The Shanghai Composite Index CN:000001 +2.87% surged 3% after recent losses, while Hong Kong’s Hang Seng Index HK:HSI +2.16% advanced 1.5%.

Gains were more moderate in other markets, with Japan’s Nikkei Stock Average JP:100000018 +0.39% finishing 0.4% higher, and South Korea’s Kospi KR:SEU +0.61% adding 0.7%, while Singapore’s Straits Times Index SG:STI +0.39% and Australia’s S&P/ASX 200 index AU:XJO +0.37% rose 0.4% apiece.

U.S. stocks dampened early sentiment in Asia with a lower finish Tuesday, as political leaders wrangled over fiscal-cliff budget talks to avert steep tax hikes and spending cuts that could push the U.S. economy into recession

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